by Sunday | Aug 20 | Accounting WAEC
A. capital account B. debit side of the trading account C. credit side of the prfit and loss account D. current liabilities in the balance sheet E. current assets in the balance sheet Correct Answer: Option A – capital...
by Sunday | Aug 20 | Accounting WAEC
A. gross sales B. gross profit C. net sales D. net profit E. manufacturing profit Correct Answer: Option D – net profit
by Sunday | Aug 19 | Accounting WAEC
motor car costing N10,000 was depreciated at 20 percent annum by the diminishing balance method. Two years late, it was sold for N6,000. The net result of the sale was A. N6,400 profit B. N6,000 loss C. N4,000 loss D. N400 profit E. N400 loss Correct Answer: Option E...
by Sunday | Aug 19 | Accounting WAEC
A. compensating error B. error of omission C. error of principle D. error of original entry E. error of transportation Correct Answer: Option D – error of original entry
by Sunday | Aug 19 | Accounting WAEC
A. a debit suspense account N800,credit Jeje’s account N800 B. debit bank to correct N400, credit Jeje’s account N400 C. debit suspense account N400, credit Jeje’s account N400 D. debit Jeje’s account N800, credit suspense account N800 E. debit...